US home sales hit a two-year low in February

The National Association of Realtors said its pending home sales index in the United States fell 4.1% to 104.9 in February, the lowest level since May 2020, and the fourth consecutive monthly decline. Analysts had expected US home sales to record 1.0% in February, and on an annualized basis US home sales fell 5.4% in February compared to the same period last year.

Data from mortgage finance agency Freddie Mac showed that the 30-year fixed rate reached 4.42% this week, the highest rate since January 2019, compared to 4.16% the week before.